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June 09, 2021
Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty
Bank Out
-
(
35085)
Our benchmark started slightly positive yesterday; whereas the
banking index opened flat. This divergence broadened as the day
progressed as we saw BANKNIFTY having a sharp cut whilst the
Nifty had a small decline in the first half. In fact to surprise, we
witnessed benchmark recouping all losses at the close but
banking index failed to participate in the recovery. Eventually, it
ended the session tad above the 35000 mark by shedding nearly
a percent.
Since last few days, the financial space is not moving at all and
yesterday it showed first sign of weakness. Although there is not
much damage done yet, 34960 34900 is to be seen as a crucial
intraday support zone. If we see it sliding and sustaining below
this junction, we could see this profit booking extended towards
34700 34500. Hence, it would be important for it to hold this
support first and then reclaiming its position above 35200
35300 in order to trigger some positivity. In this case, we can see
a pleasant day to retest 35500 35700 levels. Considering these
observations, the coming session is expected to be an interesting
one.
Key Levels
Support 1 – 34900 Resistance 1 – 35300
Support 2 – 34700 Resistance 2 – 35500
Exhibit 2: Nifty Bank Daily Chart
Looking at the change of momentum between the sectors, traders
are advised to focus on stock specific trades from the mentioned
sectors where we could see some relative out performance in the
next couple of sessions.
Key Levels
Support 1 – 15670 Resistance 1 – 15800
Support 2 – 15600 Resistance 2 – 16000
Sensex (52276) / Nifty (15740)
Nifty started the session marginally positive but it corrected from
the opening level and entered sub 15700 in the first hour of the
trade. However, the index then recovered from its lows and ended
the day marginally in the red around 15740.
The index is trading around its resistance of 15770-15800 which we
had mentioned about in yesterday's market outlook. Nifty corrected
initially led by the banking space but once again, the ‘20 EMA’ on
the hourly chart provided support to the index and it recovered
gradually from that support. The market breadth continued to
remain positive, however, a lot of sector rotation was seen yesterday
since the banking space took a backseat. The defensive sectors
witnessed buying interest with IT leading the momentum in the
morning trade, then some FMCG stock witnessed interest and at the
end, the Pharma stocks made a comeback. This indicates that while
the uptrend continues, some time correction/consolidation at the
crucial juncture is seen and the momentum seems to be shifting to
the above mentioned sectors. As far as levels are concerned, the
immediate supports are placed around 15670 and 15600 while
resistance is seen in the range of 15770-15800. A move above
15800 would then lead to a resumption of momentum in the index
towards 16000.
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Technical & Derivatives Report
June 09, 2021
Nifty Vs OI
14900
15000
15100
15200
15300
15400
15500
15600
15700
15800
15900
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
5/24 5/26 5/28 6/1 6/3 6/7
(`000)
Openinterest Nifty
View
We began Tuesday’s session on a slightly positive note
but the index lacked momentum resulting to plunge
below 15700 mark. As the day progressed, some
recovery was seen to reclaim 15750 and once again
index consolidated to eventually conclude the day
marginally lower to its previous close.
FIIs were net buyers in the cash segment to the tune of
Rs. 1423 crores. In index futures front, the overall
activity remained muted in yesterday’s session.
Now in F&O space, we saw mixed activity in both the
indices. In options front, call writers added meaningful
positions in 15700-15900 strikes. On the other side,
15700 puts continued attracting decent positions.
Maximum open interest concentration in the weekly
series is now placed at 15800 call and 15700 put
options. Considering the development seen in options
segment, we expect 15750-15800 to act as a sturdy
hurdle now and there is chances of Nifty sliding below
the recent support zone around 15700 mark. Hence,
traders are advised staying light in index for the time
being and opting stock specific approach.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 1.01%.
Bank Nifty futures open interest has increased by 1.77%
as market closed at 15741.10 levels.
The Nifty June future closed with a premium of 28.50
point against a premium of 30.60 point in last trading
session. The July series closed at a premium of 80.10
point.
The INDIA VIX decreased from 15.56 to 15.22.
At the same time, the PCR-OI of Nifty decreased from
1.41 to 1.30.
Few of the liquid counters where we have seen high cost
of carry are SAIL, GLENMARK, GMRINFRA, ONGC and
MUTHOOTFIN
.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TORNTPOWER 2769000 18.11 468.50 1.56
UBL 1879500 17.66 1379.25 2.37
BATAINDIA 1178100 16.35 1574.55 -0.02
MFSL 2671500 15.68 1014.40 3.24
AARTIIND 1188300 15.25 1771.65 2.97
LALPATHLAB 477750 12.54 2983.15 0.43
SRF 361250 10.22 6997.80 4.37
ADANIENT 19983000 10.04 1636.45 0.51
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
BHARATFORG 8104500 -8.49 757.65 1.06
COFORGE 830750 -8.38 3824.10 2.89
BOSCHLTD 99250 -6.89 15893.80 1.47
IBULHSGFIN 31213900 -6.46 251.90 1.49
ICICIPRULI 5067000 -5.72 573.70 -1.08
INDIGO 3462000 -5.72 1784.25 1.85
CONCOR 7313277 -5.70 714.10 -0.75
BEL 33854200 -5.10 152.95 -0.39
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.30 0.91
BANKNIFTY 0.61 0.89
RELIANCE 0.50 0.40
ICICIBANK 0.53 0.56
INFY 0.53 0.28
Historical Volatility
SCRIP HV
PEL 62.92
SRF 45.63
BIOCON 51.45
AARTIIND 47.20
UBL 39.43
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Technical & Derivatives Report
June 09, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (June Series) are given as an information and not as a recommendation.
Nifty Spot =
15740.10
FII Statistics for June 07, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
2576.99 2644.37 (67.38) 119353 13319.28 0.42
INDEX
OPTIONS
327796.60 326938.65 857.95
1072114 110776.34 7.06
STOCK
FUTURES
13758.88 14282.80 (523.92) 1368207 110281.46 (0.45)
STOCK
OPTIONS
17218.69 17439.71 (221.02) 285547 22284.63 5.33
Total 361351.16
361305.53
45.63
2845221
256661.71
2.87
Turnover on June 08, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
2,05,933 20149.44 23.09
Index Options
3,13,05,470 30,92,822.02 33.44
Stock Futures
8,08,056 66320.72 -8.22
Stock Options
25,09,342 2,10,284.17 -3.77
Total 3,48,28,801 33,89,576.35 29.13
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15700 213.95
56.75 43.25 15756.75
Sell 15800 157.20
Buy 15700 213.95
104.00 96.00 15804.00
Sell 15900 109.95
Buy 15800 157.20
47.25 52.75 15847.25
Sell 15900 109.95
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15700 147.35
35.25 64.75 15664.75
Sell 15600 112.10
Buy 15700 147.35
61.90 138.10 15638.10
Sell 15500 85.45
Buy 15600 112.10
26.65 73.35 15573.35
Sell 15500 85.45
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
15200 15300 15400 15500 15600 15700 15800 15900 16000 16100 16200 16300 16400 16500
Call Put
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Technical & Derivatives Report
June 09, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
845
860
874
888
902
ASIANPAINT 2,889 2,908
2,926
2,945
2,963
AXISBANK
734
740
746
752
757
BAJAJ-AUTO 4,219 4,244
4,260
4,285
4,301
BAJFINANCE 5,667 5,711
5,764
5,808
5,861
BAJAJFINSV 11,538
11,635
11,768
11,865
11,998
BPCL
471
479
484
493
498
BHARTIARTL
529
538
543
552
557
BRITANNIA 3,509 3,556
3,589
3,635
3,668
CIPLA
924
939
947
962
970
COALINDIA
151
153
155
158
160
DIVISLAB 4,177 4,209
4,234
4,266
4,291
DRREDDY 5,094 5,185
5,240
5,330
5,386
EICHERMOT 2,729 2,746
2,763
2,780
2,797
GRASIM 1,477 1,490
1,503
1,516
1,529
HCLTECH
943
955
964
976
984
HDFCBANK 1,469 1,476
1,489
1,496
1,508
HDFCLIFE
677
683
688
694
699
HDFC 2,525 2,540
2,565
2,580
2,605
HEROMOTOCO 3,020 3,038
3,058
3,076
3,096
HINDALCO
374
381
388
395
403
HINDUNILVR 2,325 2,342
2,352
2,369
2,379
ICICIBANK
632
637
643
648
653
IOC
112
114
116
118
120
INDUSINDBK
996
1,008
1,018
1,030
1,040
INFY 1,384 1,398
1,410
1,425
1,436
ITC
210
212
213
215
216
JSW STEEL
682
695
705
717
727
KOTAKBANK 1,771 1,782
1,799
1,811
1,828
LT 1,522 1,536
1,559
1,573
1,596
M&M
793
800
805
813
818
MARUTI 7,262 7,299
7,333
7,370
7,404
NESTLEIND 17,290
17,386
17,500
17,596
17,709
NTPC
114
115
117
118
119
ONGC
121
123
124
126
128
POWERGRID
228
231
235
238
242
RELIANCE 2,184 2,199
2,213
2,228
2,242
SBILIFE
952
966
977
991
1,002
SHREECEM 28,382
28,669
28,934
29,221
29,486
SBIN
419
423
428
432
436
SUNPHARMA
660
669
675
684
689
TCS 3,162 3,181
3,206
3,225
3,250
TATACONSUM
695
703
709
717
723
TATAMOTORS
330
341
349
360
368
TATASTEEL 1,082 1,097
1,115
1,129
1,147
TECHM 1,028 1,043
1,052
1,067
1,076
TITAN 1,652 1,682
1,704
1,734
1,756
ULTRACEMCO 6,635 6,715
6,805
6,885
6,975
UPL
828
841
853
865
877
WIPRO
545
548
552
554
558
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Technical & Derivatives Report
June 09, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: techni[email protected]king.com
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Technical and Derivatives Team:
Sameet Chavan Chief Analyst - Technical & Derivatives sameet.cha[email protected]roking.com
Ruchit Jain Senior Analyst - Technical & Derivatives ru[email protected]gelbroking.com
Rajesh Bhosale Technical Analyst rajesh.bh[email protected]roking.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com